Bondora recoveries grew for the third straight month in April. All told, 57,479 missed payments were recovered over the month, up by 6.2% compared to March. This month, in-house collections were the category to see the most growth, up by 23.6%. All three originating countries had an increase of recoveries, with Estonia (7.2%) leading the way, closely followed by Spain (7.0%), and Finland (4.5%).
Cash Recoveries dip
In March, cash recoveries jumped higher by 35.3%, so it was expected that the amount of cash recovered would drop in April. Over the month, €508,874 were recovered, compared to €744,546 a month ago. The majority of this decrease can be attributed to Estonian missed payments in the bailiff stage, which fell by 93.3% month-over-month, down to €231,014.
Yearly Recovery Rate
The yearly recovery rate for 2020 fell by more than 14%, down to 42.72%. Yet, this is still in-line with previous years’ recovery rates. Recoveries for 2019, on the other hand, are still performing quite well, at a rate of 54.73%.
Estonian recovery rates remain stable
Estonian recovery rates decreased by the least in 2020, down by just over 2% to 16.98%. Estonian recovery rates were also the most stable in the previous several years compared to last month, declining by about 1% in 2019 and 2018, and remaining almost unchanged for 2017. Meanwhile, the Spanish recovery rate came down from an astronomical 174.69% to 112.23% for the current year.
2019 recoveries continue to perform well
Recoveries for 2019 are maintaining their strong recovery rates. Both Estonian and Spanish recovery rates for the year are higher than the previous 4-years, with the yearly recovery rate of 54.73% higher than the previous 5-years.
You can always view missed payment recoveries and all other Bondora data at any time. Check out our real-time statistics to see not only recovery data on all Bondora missed payments, but loan history, returns data, and more.
